Citing better localisation, Japanese automobile manufacturer Nissan on Thursday slashed prices of its mid-sized sedan Sunny by up to Rs 1.99 lakh in India.

Sunny will be now available at a starting price of Rs 6.99 lakh going up to Rs 8.99 lakh (ex-showroom Delhi), Nissan Motor India Pvt Ltd (NMIPL) said in a statement.

Under the new prices, petrol variant of Sunny will now cost Rs 6.99 lakh, a cut of Rs 1.01 lakh, while the top-end automatic transmission variant is tagged at Rs 8.99 lakh, a reduction of Rs 1.99 lakh.

Similarly, the base variant of diesel option will see a price cut of Rs 1.31 lakh. It is now priced at Rs 7.49 lakh. The top-end variant is now cheaper by Rs 94,000 at Rs 8.99 lakh (all prices ex-showroom Delhi).

Commenting on the price cut, NMIPL Managing Director Arun Malhotra said, "Local production of this car enables significantly lower costs...We pass on these benefits to our customers with very competitive prices for the Nissan Sunny, our popular premium sedan."

Last year, the company had slashed prices of automatic transmission variant of its premium hatchback Micra in India by up to Rs 54,252 on the back of increased parts localisation.